Buy Or Sell Opportunity • Aug 13
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 139% to €0.037. The fair value is estimated to be €0.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 37% over the last 3 years, while earnings per share has been flat. New Risk • May 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€751k). Earnings have declined by 1.8% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (€29.7m market cap, or US$34.7m). Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Independent Director Gian Nicelli was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Mar 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-€751k). Earnings have declined by 1.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (€26.7m market cap, or US$30.8m). Reported Earnings • Nov 03
Third quarter 2025 earnings released: €0.001 loss per share (vs €0.001 loss in 3Q 2024) Third quarter 2025 results: €0.001 loss per share (in line with 3Q 2024). Revenue: €9.93m (up €9.79m from 3Q 2024). Net loss: €2.10m (loss narrowed 16% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. New Risk • Sep 30
New major risk - Revenue and earnings growth Revenue has declined by 98% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Revenue has declined by 98% over the past year. Minor Risk Market cap is less than US$100m (€36.9m market cap, or US$43.4m). New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€27m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (€39.8m market cap, or US$45.1m). Aankondiging • May 12
Risanamento SpA, Annual General Meeting, Jun 18, 2025 Risanamento SpA, Annual General Meeting, Jun 18, 2025, at 15:00 W. Europe Standard Time. New Risk • Mar 31
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€27m free cash flow). Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risk Market cap is less than US$100m (€52.0m market cap, or US$56.3m). New Risk • Jan 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Italian stocks, typically moving 7.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€27m free cash flow). Share price has been highly volatile over the past 3 months (7.4% average weekly change). Minor Risk Market cap is less than US$100m (€54.6m market cap, or US$56.2m). Reported Earnings • Nov 10
Third quarter 2024 earnings released: €0.001 loss per share (vs €0.001 loss in 3Q 2023) Third quarter 2024 results: €0.001 loss per share (in line with 3Q 2023). Net loss: €2.48m (loss widened 20% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 04
Second quarter 2024 earnings released Second quarter 2024 results: Net loss: €22.6m (down 186% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. New Risk • Jul 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (€48.8m market cap, or US$52.8m). Reported Earnings • May 13
First quarter 2024 earnings released: €0.001 loss per share (vs €0.004 loss in 1Q 2023) First quarter 2024 results: €0.001 loss per share (improved from €0.004 loss in 1Q 2023). Revenue: €155.0k (up 67% from 1Q 2023). Net loss: €2.39m (loss narrowed 68% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 14
Full year 2023 earnings released Full year 2023 results: Revenue: €601.9m (up €601.5m from FY 2022). Net income: €10.6m (up €64.4m from FY 2022). Profit margin: 1.8% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. New Risk • Oct 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €93.6m (US$99.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.5% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Market cap is less than US$100m (€93.6m market cap, or US$99.2m). New Risk • Oct 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.5% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.1% average weekly change). Reported Earnings • Aug 07
Second quarter 2023 earnings released: EPS: €0.015 (vs €0.004 loss in 2Q 2022) Second quarter 2023 results: EPS: €0.015 (up from €0.004 loss in 2Q 2022). Revenue: €586.6m (up €586.5m from 2Q 2022). Net income: €26.3m (up €34.1m from 2Q 2022). Profit margin: 4.5% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Nov 07
Third quarter 2022 earnings released Third quarter 2022 results: Net loss: €6.76m (loss widened 20% from 3Q 2021). Reported Earnings • Nov 19
Third quarter 2021 earnings released: €0.003 loss per share (vs €0.003 loss in 3Q 2020) Third quarter 2021 results: Net loss: €5.65m (loss narrowed 6.2% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 04
Second quarter 2021 earnings released: €0.003 loss per share (vs €0.005 loss in 2Q 2020) Second quarter 2021 results: Net loss: €5.75m (loss narrowed 32% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 08
Third quarter 2020 earnings released: €0.003 loss per share Third quarter 2020 results: Net loss: €6.02m (loss narrowed 2.3% from 3Q 2019). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth.